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"We have some awesome people who have been with the Payday IP throughout its lifecycle who are still with us, but it feels like a new company, a startup, and we're really keen on getting. That's partly in terms of people, especially the management team. We're certainly a very different company compared to what it was before the reconstruction. "We jokingly say we're Starbreeze 4.0 now, considering how long Starbreeze has been around. "I couldn't ask for a better starting point than that," he says. While it's a much slimmer operation, it does perhaps have fewer tools in its belt when it comes to reclaiming past growth, although Sjögren says he doesn't "feel like missing anything."
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What remains is a business solely focused (at present) on the Payday IP, continuing to expand Payday 2, building up to Payday 3, and reviving efforts on a mobile spin-off. It sold off studios such as Dhruva Interactive, cancelled the console ports of The Walking Dead, sold assets held by Smilegate to 505 Games parent Digital Bros, sold the publishing rights to titles such as 10 Crowns and System Shock 3, and at one point laid off a quarter of its staff. Reconstruction saw the company dramatically streamline its operations. Between 20, the company branched beyond development into publishing, acquired multiple studios around the world, and announced plans to develop its own virtual reality headset. Indeed, Starbreeze had been spreading itself rather thin. "We're certainly a very different company compared to what it was before the reconstruction. I'm getting in when we're on the upwards spiral, and it's fantastic." He adds: "I can't imagine how difficult it was for my predecessor handling this and I'm very grateful for all the work people who have been at Starbreeze over the last couple of years have put in. Anyone could, and from my understanding, that's what happened to Starbreeze." "If you spread yourself too thin, if you're taking on projects that are too ambitious, you might end up in problems. "Whatever company you're running, you need to make sure you're able to focus on the stuff you set out to do," he says. He admits he had not been following Starbreeze's decline closely prior to joining, but believes he understands where previous management ran into trouble. Instead, he wanted to take the opportunity to help a notable Swedish games firm get back on its feet. When Sjögren joined Starbreeze's board of directors in mid-2019 - around halfway through reconstruction - taking over the company "was certainly not in books," he says. The company searched for a replacement, with Sjögren taking on Nermark's duties on an interim basis before he was offered the permanent role back in March. 'New' is perhaps not quite the right term to describe Sjögren position at the head of the once-beleaguered company - he has, in fact, been in the role since October 2020 when Mikael Nermark left for personal reasons. So we've come from a quite terrible place to this point now where the company is newly focused on the Payday IP and creating games again. "That means we can keep running this business as is, with the cashflow and the money we have in the bank. "We're now what's called a 'going concern'," he tells.
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Understandably, new CEO Tobias Sjögren is feeling optimistic about the company's prospects.
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Starbreeze was granted a period of reconstruction - a measure in Sweden to give businesses the chance to course correct and ensure they are on the path to recovery - and after multiple extensions, it emerged in December 2019 with a plan to pay off its debts and promises of a new Payday on the horizon.īy the end of 2020, the studio had paid off most of its creditors and in March it secured a €50 million publishing deal for Payday 3 with Koch Media. Like many a Payday 2 player, Starbreeze Studios has made an impressive escape - not from virtual law enforcement as part of a video game heist, but from one of the lowest financial positions a business can be in without collapsing completely.įollowing the poor performance of Overkill's The Walking Dead, a title the Swedish developer had invested heavily in, the company found itself facing insolvency by the end of 2018.